While the auto sector appears to have corrected its inventory overhang, other sectors have not been nearly as successful, particularly high tech, ... As business sales slow, it will be even more difficult to bring inventories into line.
More Quotes from Steven Wood:
Although these data were better than expected, job creation is still weak.Steven Wood
It is our family's prayer that both of these gentlemen will become valuable members of this society.Only time will tell with Cam Hall, but we're hopeful that what he says is real.
Steven Wood
The Fed will need to cut interest rates further.
Steven Wood
Nonetheless, while there still is forward momentum in manufacturing, it appears to be less robust than earlier in the year, ... These data add to the mosaic showing a still-strong but more slowly expanding factory sector good news for the Federal Reserve.
Steven Wood
Retail spending was much stronger than anticipated. Although some of these gains were due to post-hurricane spending, it appears that consumers are not yet ready to throw in the towel.
Steven Wood
Labor markets are deteriorating quickly in the wake of the terrorist attacks on September 11, ... The economy was quite weak before the attacks, which have accelerated the pace of layoffs. As layoffs spiral higher, hiring activity has stopped, giving a strong upward push to joblessness.
Steven Wood
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